Deputy Chairman of the Central Bank of Turkmenistan Merdanguly Palivanov announced growth forecasts for the national economy of Turkmenistan for 2024 during a speech at the International Forum to attract foreign investment in the energy sector of Turkmenistan (TEIF-2024) in Paris, a Turkmenportal correspondent reports.
In 2024, it is planned to maintain the country's GDP growth at 6,3%, achieve further stable development of industries and regions, increase the volume of foreign trade turnover to 20,7 billion USD, continue supporting small and medium-sized businesses, and increase the share of the private sector in the GDP structure (not including the fuel and energy complex) up to 71,4%.
Palivanov noted the growing role of the banking system of Turkmenistan in the economic growth of the country. In 2023, the ratio of total assets of commercial banks to GDP was 75,3%, and the volume of bank lending was 53,2% of GDP.
The policy of the Central Bank of Turkmenistan to ensure the stability of the national currency in the long term increases the investment attractiveness of the country and attracts foreign capital, Palivanov noted. The volume of non-cash payments in Turkmenistan is also growing - in 2023, their share in the total volume of card payments amounted to 43,5%.
